TRUSTS & ESTATES

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Ruden McClosky's Trusts and Estates practice provides a full range of legal services and is one of the largest law firm trust departments in Florida. Many of the partners in this practice area are either certified in Wills, Trusts and Estates Law under the Florida Bar Certification Program or have an advanced degree in Tax.

We counsel clients in techniques for conserving, managing and transferring wealth, and minimizing income, gift, estate and generation-skipping transfer taxes, whenever possible. This includes transferring all types of property interests, including sole and family proprietorships, closely held corporations, real estate, partnerships, intellectual property rights, employee benefits and other investments.

Many of the Firm's clients include charities as an integral part of their income, gift and estate tax planning. Our attorneys assist them in planning and establishing foundations and charitable trusts (both charitable lead trusts and charitable remainder trusts). We also represent charitable organizations in connection with the receipt of gifts and bequests, as well as in their administrative affairs, including issues regarding formation.

Some of our specific areas of experience include:

• Basic Estate Planning: preparation of Last Will & Testament, Revocable Trust (if appropriate), Designation of Healthcare Surrogate, Living Will, Designation of Pre-Need Guardian and Durable Power of Attorney
• Estate Planning and Tax Planning for Non-Citizens
• Estate Planning and Tax Planning for Domestic Partners
• Asset Protection Planning
• Estate, Gift and Income Tax Planning, Return Preparation and Audit Representation
• Post-Mortem Estate and Income Tax Planning, Return Preparation and Audit Representation
• Sophisticated Estate Planning: Family Limited Partnerships (“FLP”s), Intentionally Defective Grantor Trusts (“IDGT”s), Qualified Personal Residence Trusts (“QPRT”s), Grantor Retained Annuity Trusts (“GRAT”s), Special Needs Trusts, Qualified Domestic Trusts (“QDOTS”) and Pet Trusts
• Philanthropic Planning: Private Foundations, Charitable Remainder Trusts, Charitable Lead Trusts, Public Charities and endowments
• Judicial Modification, Termination or Decanting of Irrevocable Trusts
• Irrevocable Life Insurance Trusts – including preparation of Crummey letters and appointment as trustee upon request
• Guardianship – establishment and administration
• Probate of taxable and non-taxable estates – including estate tax return (Form 706) preparation and audit representation, and assistance in elective share matters
• Trust administration, settlement and final distribution
• Tax representation of individuals, trusts, estates, corporations and charities
• Representation of Trustees, Personal Representatives and Guardians (“Fiduciaries”) and Beneficiaries in Probate, Trust and Guardianship Litigation
• IRA Planning: integration IRAs and qualified plans into the estate plan, post-mortem planning including use of qualified disclaimers, distributions and other techniques
• IRA Compliance: represention several financial institutions as outside counsel on IRA matters
• Investment of IRAs in Real Estate, LLCs and Alternative Investments: determining whether a proposed transaction is prohibited, assistance in structuring the investment, and set up of IRA LLC if appropriate
• Preparation of Qualified Domestic Relations Orders (“QDRO”s), as well as court documents needed to divide an IRA in divorce proceedings.
• Preparation and review of Prenuptial, Postnuptial and Cohabitation Agreements and coordination with estate plan for married and unmarried couples
• Legal Opinions on all Trusts and Estates matters

Planning for the entire family is a growing concern of many clients. We advise clients on the use of multi-generational, spendthrift trusts and other vehicles to protect assets. In addition, we also negotiate and draft pre-nuptial and post-nuptial agreements, as well as assist in planning for property division incidental to a divorce.

The Firm has attorneys who concentrate in Probate & Trust Administration and Litigation. Our attorneys have settled very substantial estates with complex legal and tax issues. Also, we have been lead counsel in many cases that were decided by the Florida Supreme Court or have been of legal significance in the field of Trusts and Estates Law.

When our clients legal needs require advice in other practice areas, we work closely with attorneys throughout the Firm in drafting corporate and contractual documents and other matters related to estate planning. We regularly work with lawyers in our Tax, Real Estate, Litigation, Creditor's Rights and Corporate practice areas. In addition, we consult with other advisors retained by our clients, such as accountants, bankers and insurance professionals.

Publications

• US Federal Estate Tax or Generation Skipping Transfer Tax
• Trusts & Estates Advisory
• Trust & Estate Advisory Winter 2007
• Trust & Estates Advisory Fall 2007